Bar / Tavern Tenants - Pros & Cons

[David Bardwell]

I'm currently analyzing a property in a C grade neighborhood, where the 1st floor is a tavern and upstairs is 4 apartments. I would love to hear from any investors who have experience with this type of property--or any other relevant experience. There are certainly some obvious concerns, but I don't want to overlook the opportunity just because I have some preconceived notions of the headaches that may or may not ever materialize.

I'm planning to do more research on the particular bar both on social media and in public records. And I guess I might as well just show up one night for a few drinks to see what the place is like.  I'll probably stick out like a sore thumb, but that may be even more telling.

One specific area I could use help with, is knowing what questions to ask and other possible sources to pursue. 

Also, are there any special benefits that I might not be thinking of--besides maybe drinking for free :) 

Thanks!